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Note 4. CHANGES IN FIXED ASSETS
<br />A. Changes in General Fixed Assets
<br />Changes in the General Fixed Assets Account Group were as follows:
<br />Balance
<br />1/1/95
<br />Land $ 354,387 $
<br />Buildings and
<br />improvements 1,118,071
<br />Improvements other
<br />than buildings 617,336
<br />Office equipment 460,468
<br />Motor vehicles 1,070,353
<br />Machinery and
<br />equipment 510,632
<br />$ 4,131,247 $
<br />B. Enterprise Fund Fixed Assets
<br />CITY OF RAMSEY, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 1995
<br />Enterprise Fund fixed assets at December 31, 1995, were as follows:
<br />Less accumulated depreciation
<br />Net Property and Equipment
<br />Note 5. LONG -TERM OBLIGATIONS
<br />A. Components of Long -Term Debt
<br />Balance
<br />Additions Deletions 12/31/95
<br />42,210 $ - $ 396,597
<br />457,119 14,045 1,561,145
<br />7,300 624,636
<br />36,807 497,275
<br />194,974 84,088 1,181,239
<br />172,923 37,000 646,555
<br />911,333 $ 135,133 $ 4,907,447
<br />Buildings and structures $ 748,631
<br />Machinery and equipment 233,480
<br />Water and sewer lines 10,452,570
<br />Improvements other than buildings 112,375
<br />11,547,056
<br />1,105,416
<br />$ 10,441,640
<br />Debt service expenditures for the long -term portion of compensated absences are recorded in the General Fund
<br />and the Economic Development Authority Fund. All other long -term debt obligations are supported by ad
<br />valorem property taxes, tax increments and special assessments and are accounted for in the Debt Service Funds.
<br />The long -term debt obligations outstanding at year -end are summarized as follows:
<br />Maturities
<br />General Obligation -
<br />Tax increment bonds 1996 -2010 3.10 - 9.75% $ 7,770,000
<br />Special assessment bonds 1996 -2001 4.15 - 6.40% 390,000
<br />Compensated absences 163,770
<br />$ 8,323,770
<br />—19—
<br />Balance
<br />Rates 12/31/95
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